LAST AUTO NEWS – CASH FOR CLUNKERS EXTENSION SOUGHT
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The government’s banknote for clunkers affairs hasn’t even clearly begun, and some are already calling for an addendum of the program. Left Lane Account reports, “lawmakers on Capitol Hill are said to be answer an addendum for the scrappage program. Congress could revisit the allurement affairs as anon as this fall..
The federal government has set abreast $1 billion for the accepted program, which provides credits to consumers for the acquirement of a new car if they about-face in an older, beneath ammunition able one. The affairs is set to alpha July 23 (though some companies accept started accepting trade-ins already) and end in November or if the money runs out — whichever comes first.
The advance for an extension, not surprisingly, comes from the auto industry. Left Lane Account letters that Dave McCurdy, admiral of the Alliance of Automobile Manufacturers, told Automotive account that as the affairs stands now, it may not be abundant to accord the abatement auto industry the blow of sales it needs.
Despite questions about if the affairs will be abundant to bang alpha sales, dealers are excited. Reuters reports, “dealers say the affairs would acceptable advice their advantage already it is absolutely up and running.” Reuters quotes one car banker as saying, “We’re anticipating that … we’ll get up to 15 to 20 percent access in absolute volume, which will advice out the all-embracing dealership traveling forward.” NPR interviewed Brian Benstock, a Honda banker in New York, who credibility out that banknote for clunkers will not just advice dealers. Benstock said, “Because dealers are spending added money for advertising, dealers are accepting absolute mail campaigns prepared, we’re authoritative arrange with the deliver companies to yield these added cars from us,” accidental to the added bounded economy.
Dealers aren’t the alone ones acquisitive to yield advantage of the program. Tulsa’s KOTV6 letters that the affairs “is now on the alarm awning of about three in four new-car buyers.”
If you’re absorbed in the Banknote for Clunkers program, analysis out our Banknote for Clunkers page. For the latest account on the program, analysis out Banknote for Clunkers news.
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